Scots leader Dundas & Wilson has won a lead role on the $645m (£369m) acquisition of the fluid and power division of Fortune 500 firm Textron.

The law firm advised regular client Clyde Blowers on the transaction, which saw the Scottish company buy the unit that encompasses four different engineering businesses in Switzerland, the UK and the US.

Dundas fielded a team of around 90 lawyers from its offices in Glasgow, Edinburgh and London, working with lawyers from six other law firms on cross-border issues.

Glasgow corporate partners Graeme Bruce and Graham Sibbald led the team for Dundas. In the US, Clyde Blowers turned to Virginia firm McguireWoods, where Baltimore corporate partner Cecil Martin took the helm.

Textron was advised by Skadden Arps Slate Meagher & Flom, where Boston partner Margaret Cohen led the team.

Bruce told Legal Week: "The deal was pleasing considering the complexity of the cross-border issues. It shows that deals like this can be seen through to the end, despite tough economic conditions."

The deal was partially funded by the launch of a new private equity fund, Clyde Blowers Capital Fund II. Edinburgh-based Dundas corporate partner Colin Lawrie advised on the fund formation.

Debt for the deal was put up by a consortium of four banks – Bank of Scotland, Barclays, HSBC and the Royal Bank of Scotland. Dickson Minto, which earlier this year formed a strategic alliance with Willkie Farr & Gallagher, advised the banks on the lending facility.